Month: August 2024

“MarketsandMarkets™”

The wet pet food market size is estimated at USD 25.5 billion in 2023 and is projected to reach USD 31.7 billion by 2028, at a CAGR of 4.5% from 2023 to 2028. The market has experienced considerable growth as pet owners increasingly seek convenient, nutritionally balanced options for their dogs and cats. This segment provides a variety of products with higher protein levels and reduced carbohydrates, reflecting a growing emphasis on pet health and natural diets. The market’s expansion is further driven by the trend of treating pets as family members, which has led to a rising demand for premium, gourmet products that resemble human food. However, this surge in demand brings sustainability and environmental challenges. The production and packaging of these products contribute to ecological problems, such as greenhouse gas emissions and non-recyclable waste. To address these concerns, manufacturers must adopt eco-friendly practices, reduce their carbon footprint, and innovate sustainable solutions. Balancing market demands with environmental responsibility is crucial for the long-term success of the wet pet food industry while addressing urgent ecological challenges.

Wet Pet Food Market Drivers: Enhanced palatability and digestibility of wet pet foods

Enhanced palatability, marked by an enticing taste, texture, and aroma, has become a key driver behind the growing demand for wet pet foods. Pet owners are increasingly selective, seeking products that align with their pets’ sensory preferences. In response, manufacturers have skillfully crafted wet pet foods that delight pets’ taste buds, encouraging regular consumption and promoting satiety. This, in turn, has led to better overall nutrition and less food waste, making wet pet foods more appealing to pet owners. Additionally, the improved digestibility of wet pet foods has gained significant attention, further fueling the rise in demand. Many pet owners are now drawn to products that not only satisfy their pets’ taste preferences but also enhance nutrient absorption and support gastrointestinal health. With their higher moisture content and softer texture, wet pet foods are easier to chew and digest, especially for pets with dental issues or older pets. As pet owners become more aware of the crucial link between diet and digestive health, the preference for wet pet foods continues to grow.

What distribution channel is leading in the wet pet food market according to recent estimates?

In recent years, the pet specialty retail sector has experienced significant growth, driven by an increasing emphasis on providing a wide array of products and services specifically designed for pets, especially dogs and cats. This expansion in pet specialty stores can be linked to the rising rates of pet ownership, heightened awareness of pet health and nutrition, and the changing preferences of pet owners.

Pet specialty stores have established a unique position compared to other distribution channels such as online platforms, supermarkets, and convenience stores. These stores offer a rich shopping experience, including personalized advice from knowledgeable staff, helping pet owners make informed choices about wet pet food based on their pets’ specific needs. This specialized environment not only fosters a sense of community and trust but also significantly boosts customer loyalty. Additionally, the pet specialty store format allows for the discovery of premium and specialized wet pet food options that may not be as prominently available in other retail settings.

Asia Pacific dominates the wet pet food market share.

Over the past decade, the Asia Pacific region has experienced a significant increase in pet ownership, with more households embracing dogs and cats as key members of their families. This shift is driven by changing socio-cultural norms, urbanization, and evolving lifestyles, all of which have heightened the demand for pet companionship. Additionally, the trend of pet humanization has gained strong momentum in the Asia Pacific, with pet owners increasingly viewing their animals as cherished family members. This mindset has led to a greater willingness to invest in their pets’ health, well-being, and overall quality of life. Consequently, there is a growing preference for premium, nutritionally-rich pet food options, including wet pet food, which is often seen as offering superior nutritional benefits.

The rise in disposable incomes, rapid urbanization, and increased awareness of pet health have further fueled the demand for high-quality pet nutrition products in the Asia Pacific. This trend is expected to continue, driving the growth of the wet pet food market in the region. As pet owners become more discerning about their pets’ dietary needs, the popularity of wet pet food, known for its taste and nutritional value, is likely to increase, paving the way for significant market expansion.

Top Wet Pet Food Companies:

Nestlé (Switzerland), Mars, Incorporated (US), Colgate-Palmolive Company (US), Unicharm Corporation (Japan), Thai Union Group PCL (Thailand), Charoen Pokphand Foods PCL (Thailand), General Mills Inc. (US), The J.M. Smucker Company (US), and Better Choice Company (US) are among the key players in the global market. To increase their company’s revenues and market shares, companies are focusing on launching new products, developing partnerships, and expanding their production facilities. The key strategies used by companies in the market include geographical expansion to tap the potential of emerging economies, strategic acquisitions to gain a foothold over the extensive supply chain, and new product launches as a result of extensive research and development (R&D) initiatives.

Nestlé (Switzerland)

Nestlé, a Swiss-based multinational conglomerate founded in 1866, stands as one of the leading companies across seven diverse business segments, catering to a wide range of consumer needs. These segments encompass powdered and liquid beverages, petcare, nutrition and health science, prepared dishes and cooking aids, milk products and ice cream, confectionery, and water.

Within its comprehensive petcare segment, managed through Nestlé Purina PetCare Company, the company focuses on enhancing the lives of pets and their owners through science-based nutrition solutions. Nestlé Purina offers an array of wet pet foods, including brands like ALPO, Beneful, Purina Dog Chow, and Fancy Feast, catering to dogs and cats. Nestlé’s global footprint encompasses North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa, operating pet care production facilities in 19 countries.

Mars, Incorporated (US)

Mars, Incorporated, a prominent global player in the consumer goods industry, boasts a rich century-long history and a diverse product portfolio. Operating across four primary business segments—mars petcare, mars snacking/mars wrigley, mars food & nutrition, and mars edge—the company has established itself as a formidable competitor in confectionery, pet care, and food sectors.

In the Mars Petcare division, the company is dedicated to enhancing pet health and well-being through a wide range of pet food and care products. Brands like Eukanuba, PEDIGREE, Cesar, Whiskas, Sheba, Jams, and Royal Canin offer comprehensive wet pet food options tailored to the unique nutritional needs of different pets, showcasing a commitment to diversity and dietary preferences. The company’s global influence extends across various regions—North America, Europe, Asia, South America, Australia, and Africa.

Wet Pet Food Industry News:

In June 2023, Mars Petcare Australia, a division of Mars, Incorporated, decided to invest around USD 77 million to expand its cat food production in Wodonga, Australia. The project includes a dedicated 7,800-square-meter facility focused on wet cat food production, featuring two production lines with an annual capacity of 25,000 tons. This move aims to meet current and future consumer demand, strengthen local operations, introduce new product lines, and solidify Mars Petcare’s leading position in the pet food industry, with support from the Victorian government.

In February 2023, Mars Petcare, a division of Mars, Incorporated, successfully acquired Champion Petfoods, known for premium pet food brands ORIJEN and ACANA. This enriches Mars Petcare’s global offerings, including wet pet foods, aligning with its strategy and enhancing its presence in the upscale pet food market. Champion Petfoods will operate independently under Mars Pet Nutrition, providing diverse choices and fostering growth and innovation.

In April 2022, Nestlé invested USD 90 million to upgrade its Blayney site in Australia, expanding Nestlé Purina PetCare’s production of wet cat food to meet growing demand. The facility now employs advanced technology, resulting in a 120% boost in single-serve wet cat food output, complementing existing dry pet food offerings. This expansion created 20 jobs, increased local ingredient usage to over 85%, and reaffirmed Nestlé Purina’s regional significance, exporting wet and dry pet food to various countries including New Zealand, Thailand, and Japan. Total investment in the Blayney factory exceeds USD 200 million over a decade.

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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“MarketsandMarkets™”

The seed coating market size is on a trajectory of significant expansion, with an estimated value projected to reach USD 3.1 billion by 2028 from the 2023 valuation of USD 2.0 billion, displaying a promising Compound Annual Growth Rate (CAGR) of 8.5%. The surge in growth within the seed coating market is largely driven by the continuous introduction of innovative technologies and formulations designed to improve seed quality, boost crop performance, and enhance sustainability in agriculture.

Key advancements, such as precision coating technologies, controlled-release coatings, bio-polymer-based coatings, and nanocoatings, are propelling market progress. Precision coating technologies, for example, allow for the exact and uniform application of active ingredients, ensuring seeds receive optimal treatment doses while minimizing environmental impact. These technologies are crucial for the effective application of fungicides, insecticides, and nutrients, enhancing their efficacy and reducing environmental consequences. Alongside these technological developments, there’s a growing focus on creating innovative formulations that combine various active ingredients to produce synergistic effects. These specialized formulations are tailored to address specific pests or diseases, reflecting a shift towards more targeted solutions in the agricultural sector.

Seed Coating Market Drivers: Amplifying Agricultural Productivity with Seed Coating on Marginal Lands

Seed coating is crucial for boosting agricultural productivity, particularly on marginal lands that are unsuitable for traditional farming due to poor soil quality, salinity, drought, or pest problems. These coatings provide essential protection and nutrients to help seeds germinate and flourish in challenging conditions. As industrialization and urbanization reduce available agricultural land, innovative solutions like seed coatings become increasingly important for optimizing cultivation and improving yields, which directly benefits farmers’ incomes.

A key development in this field came from a 2019 MIT study, which highlighted the effectiveness of seed coatings made with silk and nitrogen-fixing bacteria in enhancing crop yields in saline soils. The silk coating protects seeds from harmful salt ions, while the bacteria supply a natural source of nitrogen. The study found that coated seeds had higher germination rates and better plant health compared to uncoated seeds. Specifically, 88% of coated seeds sprouted in non-salty soil, compared to 62% of uncoated seeds. In saline conditions, 71% of coated seeds sprouted versus 45% of uncoated seeds. Additionally, within two weeks, coated seeds showed impressive growth with longer stems and roots and increased branching, indicating a promising path for sustainable farming on challenging lands. This progress is driving growth in the global seed coating market.

These advancements in seed coating technology highlight its potential to transform agricultural practices and support farmers facing limited arable land. By addressing challenges on marginal lands and enhancing crop growth and yields, seed coatings offer a significant step forward in agriculture and hold promise for improving global food security amid shrinking arable areas due to urbanization and industrial expansion.

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Liquid Seed Coating Segment Expected to Lead Growth with Highest Projected CAGR in the Upcoming Forecast Period.

Liquid seed coatings find application across a diverse spectrum of seeds, including but not limited to corn, soybeans, wheat, rice, various vegetables, and a myriad of flowers. Their significance in modern agriculture cannot be overstated, as they serve as indispensable tools for farmers and growers alike, contributing to the enhancement of seed quality, amplified crop yields, and cost reduction.

In this context, Croda International Plc stands out with its pioneering FS formulations, a category of seed treatment that is rapidly gaining traction in the market. These formulations are garnering increased attention due to their concentrated nature, water-based composition, and the enhanced safety they offer during application in comparison to other alternatives. FS formulations are crafted through the modification of suspension concentrates (SC) by incorporating supplementary additives that facilitate the binding of the active ingredient to the seed surface. Furthermore, the inclusion of colorants in these formulations serves as a clear indicator that the seed has undergone treatment, adding to their overall appeal and user-friendliness.

China is one of the Largest Growing Region for Seed Coating Market Growth in Asia Pacific

China has emerged as the leading force in seed coating within the Asia Pacific region, driven by the growing adoption of this technology among its farmers. This shift is largely due to Chinese farmers increasingly turning to seed coating to improve crop quality, enhance yields, and reduce dependency on pesticides. The technique provides a protective barrier, shielding seeds from pests, diseases, and weeds while also boosting germination rates and seedling strength.

Importantly, the Chinese government is playing a proactive role in promoting seed coating technology to boost agricultural productivity and reduce pesticide use. In 2021, the Ministry of Agriculture and Rural Affairs (MARA) released a policy document that strongly supports the seed coating industry. This policy includes significant plans to increase investment in research and development, expand subsidies for seed coating products, and encourage widespread adoption of this technology among farmers, marking a key governmental endorsement of this transformative agricultural practice.

Top Seed Coating Companies:

The key players in this market include BASF SE (Germany), Solvay (Belgium), Croda International Plc (UK), CLARIANT (Switzerland), DSM (Netherlands), Sensient Colors LLC (US), BrettYoung (Canada), Milliken (US), Precision Laboratories, LLC (US), and Germains Seed Technology (UK).  

BASF SE

BASF SE is a company that specializes in chemical manufacturing, featuring six distinctive segments in its portfolio: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and care, and Agriculture Solutions. The company provides solutions for a wide range of industries, including agriculture, automotive & transportation, chemicals, coating solutions, construction, electronics & electric, energy & resources, furniture & wood, home care, industrial & institutional cleaning, nutrition, packing & print, and pharmaceuticals, among others. BASF’s seed coating segment is part of its Agricultural Solutions division. This segment offers a wide range of seed treatment solutions, including chemical and biological protection products, as well as inoculants. BASF’s seed coating products are designed to help farmers protect their seeds from pests and diseases, improve germination and seedling vigor, and increase yields. In December 2021, BASF SE launched a new seed coating polymer, Flo Rite Pro 2805, that improves the adhesion and retention of active ingredients, while also improving seed flowability and compatibility with other seed treatments. This new polymer will replace Flo Rite 1706 in North America and is expected to offer soybean, dry bean, and pea growers higher yields.

Solvay

Solvay is the world’s leading producer of specialty polymers, essential chemicals, and high-performance materials. Solvay’s products are used in a wide range of industries, including aerospace, automotive, construction, consumer goods, electronics, healthcare, and mining. Solvay is committed to developing a sustainable portfolio of seed coatings. They are currently working on reformulating their Peridiam products to be microplastic-free. The Peridiam portfolio offers a variety of seed-coating solutions tailored to different crops, climates, growing conditions, and market needs. Each product is designed to improve adhesion, provide better seed coverage, and ensure that all active compounds stay on the seed, resulting in strong, healthy plants and an enhanced crop yield. In July 2021, Solvay acquired Bayer’s global seed coatings business, including facilities in France, the U.S., and Brazil. The business is a leader in seed coating and seed enhancement products, and Solvay will remain a strategic partner for Bayer’s seed activities. The acquisition is part of Solvay’s strategy to strengthen its range of sustainable, bio-based solutions for agricultural customers.

Seed Coating Industry News:

In June 2023, Precision Laboratories, LLC is expanding strategically by providing specialized chemistries for the agricultural industry in the merger of Seed Tech and Direct Enterprises (DEI) to distribute value-added products for seed producers and conditioners. Precision Laboratories, LLC’s proprietary seed enhancement and seed treatment technologies include water management chemistries, nano-particle nutrient products, seed coating polymers, and seed colorants, many of which are formulated in combinations for ease of customer use. The collaboration enables Precision Laboratories, LLC to introduce its seed product portfolio swiftly and effectively to the market through DEI’s distribution network.

In February 2022, Croda International Plc collaborated with Xampla, a company backed by Cambridge University, to collaborate on the development of next-generation, biodegradable seed coatings that are free from microplastics. This collaboration is supported by the UK government and the National Institute of Agricultural Botany and involves a £640,000 project trial focused on Xampla’s plastic-free seed coatings. These coatings aim to provide sustainable and biodegradable alternatives to the petroleum-derived polymers traditionally used for seed coatings in agriculture.

In January 2022, GreenLight Biosciences and Germains Seed Technology have joined forces to form a research partnership agreement. This collaboration introduces the world’s first commercial use of RNA (Ribonucleic Acid) as a seed treatment, with the primary goal of controlling crop diseases and offering innovative solutions to farmers. The collaboration will involve an exploration of the synergistic potential between Germains Seed Technology expertise in seed priming and coating technologies and GreenLight Biosciences proficiency in dsRNA technology.

Schedule a call with our Analysts to discuss your business needs: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=149045530

About MarketsandMarkets™

MarketsandMarketsTM has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103
City: Delray Beach
State: FL 33445
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/seed-coating-materials-market-149045530.html

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Seed Coating Market Size, Share, Industry Growth, Trends, Opportunities, Key Segments, Top Companies, Recent Developments, and Revenue Forecast